DOCSLIB.ORG

Accorhotels and Rixos Hotels Announce a Strategic Partnership

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Accorhotels and Rixos Hotels Announce a Strategic Partnership Press release - March 6, 2017 AccorHotels and Rixos Hotels announce a strategic partnership AccorHotels and Rixos Hotels announce today a strategic partnership illustrating AccorHotels’ strategy to expand its presence in the Upper Upscale/Luxury market, with a primary focus on developing global activities in the resort segment. Under a long-term joint venture, both parties intend to collaborate, develop and manage Rixos branded resorts & hotels worldwide. Upon closing, AccorHotels will own a 50% interest in the joint venture management company. Through this joint venture, AccorHotels will integrate in its network 15 iconic hotels that are ideally located in premium resort markets in Turkey, UAE, Egypt, Russia and Europe and which benefit from strong room rate performance. As part of this transaction, Rixos plans to reflag five city-centre hotels to AccorHotels brands which will also be managed by AccorHotels. To this portfolio, Rixos will add a second iconic hotel in Dubai in the very short term as well as two other properties by the end of 2018 in Abu Dhabi and the Maldives highlighting the expansion of the Rixos brand into this key resort market. WorldReginfo - fe7ad744-9212-4c3a-9da0-b21390404e8d Rixos is one of only a handful iconic resort brands in the region that caters to both high- end transient and group customers. It is recognized as one of the leading luxury destination brands in Turkey and the Middle East due to its best-in-class facilities, dining options and entertainment venues. Each unique property is able to capture the traditions of its surrounding while providing signature experiences, unforgettable sensory offerings, and unparalleled level of tailored services. The Rixos collection includes notable landmark assets such as Rixos Premium Belek in Turkey and Rixos The Palm in Dubai. Additionally, Rixos has invested in Turkey's largest life and entertainment center, The Land of Legends Theme Park, which opened its gates in the country's tourism capital Antalya in July 2016. The joint venture will also manage the hotel within the entertainment park. Fettah Tamince, Founder and Chairman of Rixos said : “Our collaboration is part of Rixos’ objective for further expansion and growth globally with a strong partner in the hospitality industry. Combined with our partner’s strong brand portfolio, reservation and sales network supported by a wide range of digital marketing activities, Rixos will expand its current geographic footprint & customer base. It is also a great opportunity for our customers to benefit from our participation in Le Club AccorHotels, which is recognized as one of the most powerful loyalty programs in the industry with over 100 million member”. Sébastien Bazin, CEO and Chairman of AccorHotels, said: “This new partnership has many benefits for us. It enables us to become a leading resort operator in a growing market and to complement our offer with attractive leisure destinations to our guests and loyalty members. And moreover, we are going a step further in our ambition to be the best provider of multi-nature services to guests by operating hotels in major entertainment complexes which offers new opportunities both in terms of customer experience and of development strategy.” About AccorHotels AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,100 hotels, resorts and residences, as well as in over 3,000 of the finest private homes around the globe. Benefiting from dual expertise as an investor and operator through its HotelServices and HotelInvest divisions, AccorHotels operates in 95 countries. Its portfolio comprises internationally acclaimed luxury brands including Raffles, Fairmont, Sofitel Legend, SO Sofitel, Sofitel, onefinestay, MGallery by Sofitel, Pullman, and Swissôtel; as well as the popular midscale and boutique brands of 25hours, Novotel, Mercure, Mama Shelter and Adagio; the much-prized economy brands including JO&JOE, ibis, ibis Styles, ibis budget and the regional brands Grand Mercure, The Sebel and hotelF1. AccorHotels provides innovative end- to-end services across the entire traveler experience, notably through the recent acquisition of John Paul, world leader in concierge services. With an unmatched collection of brands and rich history spanning close to five decades, AccorHotels, along with its global team of more than 240,000 dedicated women and men, has a purposeful and heartfelt mission: to make every guest Feel Welcome. Guests enjoy access to one of the world’s most rewarding hotel loyalty programs - Le Club AccorHotels. AccorHotels is active in its local communities and committed to sustainable development and solidarity through PLANET 21, a comprehensive program that brings together employees, guests and partners to drive sustainable growth. WorldReginfo - fe7ad744-9212-4c3a-9da0-b21390404e8d Accor SA is publicly listed with shares trading on the Euronext Paris exchange (ISIN code: FR0000120404) and the OTC marketplace (Code: ACRFY) in the United States. For more information and reservations visit accorhotels.group or accorhotels.com. Or become a fan and follow us on Twitter and Facebook. About Rixos Hotels Rixos Hotels, established in 2000, is one of the world’s fastest growing, all-inclusive resort company in EMEA with a strong presence in Turkey, UAE, Egypt, Russia and Europe. The company has 20 resorts and hotels under its brands, representing a total of 8,000 rooms. Dedicated to offering traditional Turkish hospitality and a unique spa experience in the finest surroundings and luxury ambience, Antalya based group owns and operates premium resorts & villas including city hotels in key regions. At the heart of every Rixos hotel is a revitalizing Wellness and Spa Centre with an authentic Turkish Hammam, offering a unique spa treatment, menu and atmosphere. Known for their hospitality, attentive personalized service and fine cuisine, Rixos Hotels received global recognition and top ratings from distinguished specialist professional bodies such as the American Five Star Diamond Award, Conde Nast, World Travel Awards and Great Hotels of the World. Accorhotels Media Relations Carina Alfonso Martin Delphine Dumonceau Vice President Media Relations Worldwide Corporate PR Manager Phone: +33 (0)1 45 38 84 84 Phone: +33 (0)1 45 38 84 95 [email protected] [email protected] AccorHotels - Investor and Analyst Relations Sébastien Valentin Senior Vice President, Investor Relations and Financial Communication Phone: +33 (0)1 45 38 86 25 [email protected] Contact - RIXOS HOTELS Etem Birinci Executive board member Phone: +90 212 373 8218 [email protected] WorldReginfo - fe7ad744-9212-4c3a-9da0-b21390404e8d.
Load more

Recommended publications
  • ITB 2020 4 - 8 March 2020 List of Exhibitors
    ITB 2020 4 - 8 March 2020 List of Exhibitors Exhibitor Postal code City Country/Region 1001 Nights Tours 19199 Tehran Iran 123 COMPARE.ME 08006 Barcelona Spain 1AVista Reisen GmbH 50679 Köln Germany 2 Travel 2 Egypt 11391 Cairo Egypt - Prime Hospitality Management Group 33-North Baabdath el Metn Lebanon 360-up Virtual Tour Marketing 40476 Düsseldorf Germany 365 Travel 10000 Hanoi Vietnam 3FullSteps 1060 Nicosia Cyprus 3Sixty Luxury Marketing RG9 2BP Henley on Thames United Kingdom 4Travel Incoming Tour Operator 31-072 Kraków Poland 4X4 Safarirentals GmbH 04229 Leipzig Germany 500 Rai Resort & Tours 84230 Surat Thani Thailand 506 On The River, Woodstock 05091 Woodstock United States of America 5stelle* native clouds pms 43019 Soragna Italy 5vorFlug GmbH 80339 München Germany 7 Degrees South Victoria Seychelles 7/24 Transfer Alanya/Antalya Turkey 7Pines Kempinski Ibiza 07830 Ibiza Spain 9 cities + 2 in Lower Saxony c/o Hannover Marketing & Tourismus GmbH 30165 Hannover Germany A & E Marketing Durbanville, Cape Town South Africa A Dong Villas Company Limited 56380 Hoi An City Vietnam A la Carte Travel Greece 63200 Nea Moudania Greece A Star Mongolia LLC 14250 Ulaanbaatar Mongolia a&o hostels Marketing GmbH 10179 Berlin Germany A-ROSA Flussschiff GmbH 18055 Rostock Germany A-SONO Riga Latvia A. Tsokkos Hotels Public Ltd 5341 Ayia Napa Cyprus A.T.S. Pacific Fiji Nadi Airport Fiji A1 Excursion Adventure Tours and Travel Pvt. Ltd. 44600 Kathmandu Nepal A2 Forum Management GmbH 33378 Rheda-Wiedenbrück Germany A3M Mobile Personal Protection GmbH 72070 Tübingen Germany AA Recreation Tours & Travels Pvt. Ltd. 110058 New Delhi India AAA Hotels & Resorts Pvt Ltd 20040 Male Maldives AAA Travel 7806 Cape Town South Africa AAA-Bahia-Brasil 41810-001 Salvador Brazil AAB - All About Belgium Incoming DMC for the Benelux 9340 Lede Belgium aachen tourist service e.v.
    [Show full text]
  • Talent Development @ Hospitality Industry
    Talent Development @ Hospitality Industry Hüseyin KÜCÜ HR Manager @ CHQ [email protected] 1 • Rixos Hotels, established in 2000, is one of the world’s fastest growing, luxury hotel brand. Rixos At a Glance • The World’s largest Turkish hotel brand. • Market Leader at All Inclusive concept in Turkey. • One of the most well known hotel brand in Turkey & CIS Countries • Member of a Global Hotel Alliance, a collection of 22 upscale and luxury regional hotel brands from across the world 2 • We are giving luxury services with more than 8000 employees from 50 different nationalities Rixos: A Global Company • 700.000 guests from 200 different nationalities, stayed Rixos Hotels at 2013. • Annually Guest satisfaction score of Rixos is 85%. • 8out of 10 of satisfied guests were recommending Rixos to others • More than 80 international awards during 14 years. • Winner of the award of Europe’s Leading Hotel Brand, known as Oscar of Hospitality Industry, at 2010 3 Rixos Worlwide 2009 –Rixos Lares 2010 –Rixos Al Nasr Tripoli 2000– Rixos Tekirova 2011 –Rixos Downtown Antalya 2014 – Naftalan Hotel By Rixos 2003 –Rixos Premium Bodrum 2012 –Rixos The Palm Dubai 2014 – Samaxi Palace Platinum By Rixos 2005 –Rixos Premium Belek 2013 – Rixos Pera İstanbul 2014 – Rixos Krasnaya Polyana Sochi 2005 –Rixos President Astana 2013 –Rixos Sharm El Sheikh 2014 – Rixos Quba Azerbaijan 2005 –Rixos Konya 2014 – Rixos Premium Göcek Suites&Villas 2014 – Rixos Flüela Davos 2007 –Rixos Libertas Dubrovnik 2014 – Rixos Beldibi 2014 – Rixos Alamein 2009 –Rixos Grand Ankara 2014 –Rixos Eskişehir 2014 – Rixos Bab Al Bahr 2009 –Rixos Sungate 2014 –Rixos Khadisha Shymkent 2014 –Rixos Mriya, Yalta 2009 –Rixos Almaty 2014 –Rixos Borovoe 2014 –Rixos Duhok • We have 29 hotels in 10 countries at Worlwide.
    [Show full text]
  • Europe Nominee List Updated 26 Aug 2010
    Europe Europe Europe's Leading Airline Air France Alitalia British Airways Iberia KLM Lufthansa SAS Scandinavian Airlines Swiss International Air Lines TAP Portugal Turkish Airlines Europe's Leading Airport Amsterdam Airport Schiphol, Netherlands Barcelona International Airport, Spain Copenhagen Airport, Denmark Domodedovo International Airport, Russia Hamburg Airport, Germany Heathrow Airport, London, England HelsinkiVantaa, Finland Leonardo da Vinci International Airport, Italy Lisbon Airport, Portugal Madrid Barajas International Airport, Spain Munich International Airport, Germany Zurich Airport, Switzerland Europe's Leading Airport Hotel Hilton Copenhagen Airport Hotel, Denmark Hilton London Heathrow Airport Hotel, England Kempinski Airport Hotel Munich, Germany Radisson SAS Hotel London Stansted Airport, England Renaissance Barcelona Airport Hotel, Spain Sheraton Amsterdam Airport Hotel and Conference Center, Netherlands Sheraton Paris Airport Hotel & Conference Centre, France Europe's Leading All-inclusive Resort Aldemar Rhodos Paradise Village, Greece Aska Costa Holiday Club, Turkey Club Hotel Riu Chiclana, Spain Club Hotel Riu Gran Canaria, Spain Club Hotel Riu Paraiso Lanzarote Resort, Spain Club Hotel Riu Vista Mar, Spain Concorde De Luxe Resort,Turkey Da Balaia Club Med, Portugal Kemer Resort Hotel, Turkey Rixos Premium Belek, Turkey Titanic Hotel Antalya, Turkey Europe's Leading Beach Cannes, France Corfu, Greece Costa de la Luz, Spain Costa Smeralda, Sardinia, Italy Dona Ana, Lagos, Portugal Formentera Island, Ibiza Marbella,
    [Show full text]
  • Digital Travel 2015 Attendee List
    Digital Travel 2015 Attendee List Head of Product Thomas Cook Head of Product Management – Checkout & Payments Thomas Cook Chief Digital Officer Thomas Cook Head of E-Commerce Alitalia E-Commerce Project Manager Lufthansa Social Media Manager Lufthansa Head of Online Sales and Mobile Services Lufthansa Group Director Business Development & Mobile Partnerships EMEA TripAdvisor Sr Manager, Hotel Partnerships EMEA Tripadvisor Chief Technology Officer RyanAir Head of QA Ryanair IT Director Flybe Head of Customer Experience Whitbread Head of Social Media Aer Lingus Sr. Ux Designer Aer Lingus Ancillary and Analytics Web Analyst Aegean Airlines S.A E-Commerce & Loyalty Manager Aegean Airlines S.A Head of Digital Services and Content Aegean Airlines S.A Sales and Marketing Director Croatia Airlines Digital Marketing Specialist Pegasus Airlines Digital Marketing Manager Pegasus Airlines Digital Marketing Manager Pegasus Airlines Online Sales and Marketing Manager Turkish Airlines E and M-Commerce Director Vueling Airlines Mobile product owner Vueling Airlines Website Manager Apex Hotels Head of eDistribution Barcelo Hotels Head of Ecommerce Barcelo Hotels Head of Digital Best Western Hotels GB PPC Specialist Corinthia Hotel Group Web Content Manager Corinthia Hotel Group Vice President of Revenue Management – Europe Diamond Resorts and Hotels Market manager – Spain and Portugal Diamond Resorts and Hotels Digital Marketing Director FRHI Hotels & Resorts Editor Hotel Analyst Editorial Director Hotel Analyst Hotels.com Digital Strategy and Distribution
    [Show full text]
  • Recent M&A Activity in the European Hospitality Industry
    Recent M&A Activity in the European Hospitality Industry: A story of OpCos and PropCos September 2018 By Andrew Harrington Partner AHV Associates LLP Strictly Private and Confidential An Introduction Founded in 2001 by Andrew Harrington and Hanif Virji, AHV Associates LLP (AHV) is an award winning boutique investment bank focused on advising private companies across a range of M&A and advisory assignments AHV Associates AHV Corporate Finance AHV Financial Markets Therium AHV Financial Mergers & Acquisitions Board Advisory Raising Finance Advisory Markets ▪ M&A ▪ Strategic Options ▪ Real Estate Finance ▪ Derivatives ▪ £200 million Litigation ▪ Company Sales & JVs Assessment ▪ Debt & Equity ▪ Loans & Currencies Funding ▪ MBO ▪ Acquisition Finance ▪ Interest Rate Hedging ▪ Transaction Structuring ▪ Dev/Exp Capital ▪ Buy Out AHV specializes in hospitality and has worked with companies who owns hotels, apart-hotels, serviced apartments, hostels and mixed-use resorts AHV Associates LLP is authorized and regulated by the Financial Conduct Authority Recent M&A Activity in the European Hospitality Industry: Opcos and Propcos Executive Summary There has been a lot of M&A activity in the European hospitality industry during the last 12 months, either by European companies investing globally or by non European companies acquiring or investing in the European market We have reviewed the deals that have occurred and have identified a few key themes that could underpin activity in the future: ❑ Many hotel groups have chosen to solely focus on the operational
    [Show full text]
  • European Hotel Transactions 2004
    European Hotel Transactions 2004 This issue has been published by the London Office of HVS International 2005 Edition Philippa Bock and Bernard Forster good covenants, together with the availability of a buyer and the offer Introduction exceptional level of private equity and matching the vendor’s expectations. institutional capital becoming available. During 2004, HVS recorded a total of he European hotel industry staged 137 single asset hotel transactions of a good recovery in 2004, having more than €7.5 million, the minimum experienced significant instability T amount set for a transaction to qualify in recent times as a result of numerous European Single for inclusion in our survey. The total unprecedented events worldwide. The volume of single asset transactions was resilience of the hotel market, as proven Asset Transaction particularly impressive, resulting in a over the last three years, has resulted in Activity record level of investment; this hotel real estate now being considered a investment, at approximately €4 billion, mainstream asset class. Moreover, the ith no unprecedented events was 21% higher than it was the previous upside of hotels in a recovering market occurring in Europe during year. Single asset transactions accounted is very appealing, with the positive 2004 to send the industry into W for approximately 45% of the total leverage resulting from improved turmoil, the signs in late 2003 that many investment activity, less than the profitability creating a very attractive European markets were at the bottom of previous year; however, this was environment for investors. their cycles proved correct, with a understandable considering the strong In 2004, the European hotel number of European markets enjoying increase in portfolio activity following investment market shifted into top gear RevPAR growth in 2004.
    [Show full text]
  • Serdar Ali Abet
    turizmYEAR:15 • NUMBER: 2014/4 • MAY 2014 • YIL:15 • SAYI: 2014/4 • MAYIS 2014 • ISSN: 1301 - 4587 • FİYATI:aktüel 8 TL THE LEADER OF THE MIDDLE EAST MARKET ALWAYS HUNGRY FOR SUCCESS SERDAR ALİ ABET 5 HOTELS WITH CONVENTION 5 STARS IN 5 YEARS TOURISM BOOMING IN FOOD STEPS OF TURKEY THERMAL TOURISM IN CAPPADOCIA 31 INVESTORS IN TOURISM IN 3 YEARS EDITOR turizm aktüel Year:15 - Number: 2014/4 - MAY 2014 Yıl:15 - Sayı: 2014/4 - MAYIS 2014 ISSN: 1301 - 4587 Publishing Center Yayın Merkezi Kent Turizm Araştırmaları ve Yayıncılık Yerebatan Cad. No: 43 Hüdaverdi İş Merkezi K. 3/8 Cağaloglu İSTANBUL The stage is yours Turkey Tel: +90 212 511 25 61 Fax: +90 212 513 63 59 ello to all from the Turizm Aktuel with its special edition of “ATM e-mail: [email protected] Dubai Tourism Fair”. www.turizmaktuel.com Turkey started in the 2014 tourism fairs marathon with the Owner and Managing Editor WTM London Tourism Fair last November. The marathon Sahibi ve Sorumlu Yazı İşleri Müdürü Hasan Arslan Hcontinued on with Utrecht, Netherlands in January, FITUR, Spain in February, ITB Berlin and MITT Moscow Tourism Fairs in March. Academic Tourism Consultants These fairs are the most important tourism fairs of the world. Turkey, as last Akademik Turizm Danışmanları year, made its appearance before the eyes on the world stage with its renewed Prof. Dr. Muzaffer Uysal image. We made a total show of power ITB Berlin by showing our quality to Virginia Polytechnic University [email protected] competing countries and reclaimed our position. Prof.
    [Show full text]
  • Notice of Meeting Combined Ordinary and Extraordinary Shareholders’ Meeting
    NOTICE OF MEETING COMBINED ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING Friday, April 20, 2018 at 10:00 a.m at the Novotel Paris Est 1, avenue de la République – 93177 Bagnolet AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,300 hotels, resorts and residences, as well as in over 10,000 of the finest private homes around the globe. Benefiting from dual expertise as an investor and operator, AccorHotels operates in 100 countries. Its portfolio comprises internationally acclaimed luxury brands including Raffles, Sofitel Legend, SO Sofitel, Sofitel, Fairmont, onefinestay, Rixos, MGallery by Sofitel, Pullman, Swissôtel and 25 hours; the popular midscale and boutique brands of Novotel, Mercure, Mama Shelter and Adagio; the much-prized economy brands including JO&JOE, ibis, ibis Styles, ibis budget and the regional brands Grand Mercure, The Sebel and hotelF1. AccorHotels provides innovative end-to-end services across the entire traveler experience, notably through the recent acquisition of John Paul, the world leader in concierge services. With an unmatched collection of brands and a rich history spanning close to five decades, AccorHotels, along with its global team of more than 250,000 dedicated women and men, has a purposeful and heartfelt mission: to make every guest Feel Welcome. Guests enjoy access to one of the world’s most rewarding hotel loyalty programs – Le Club AccorHotels. AccorHotels is active in its local communities and committed to sustai- nable development and solidarity through PLANET 21, a comprehensive program that brings together employees, guests and partners to drive sustainable growth.
    [Show full text]
  • 2017Abc Premier Hotel Program
    2017 ABC PREMIER HOTEL PROGRAMTM Including: 2017 Participating Hotel Chains | Premier Privileges - Corporate Luxury Program Block Space Program | Loyalty Guide Swissôtel The Stamford The Plaza, New York Singapore Feel Welcome From the elegance of to the legendary opulence of New York’s The Plaza to the magnificent, Swissôtel The Stamford in Singapore, our iconic properties provide unparalleled luxury and superlative service in some of the world’s most celebrated destinations. For reservations, please book your ABC rate code. GDS chain code FW For more information, please visit www.AccorHotels.com Welcome TO THE 2017 ABC PREMIER HOTEL PROGRAM We are pleased to present the 2017 ABC Premier Hotel Program. Our unique program already is the broadest in the industry, but this year it is bigger than ever. Our global hotel network covers 8,800 cities in 163 countries, including 381 participating hotel chains and thousands of independent properties. ABC’s Premier Hotel Program offers more than just volume. Our hotel team has structured programs that equip you to provide value to your clients. More than half of the participating hotels are in our Better Than BAR program, providing a discount off the best available rate when you book using the ABC rate code. Premier Privileges, our corporate luxury program, connects you with over 520 participating 4- and 5-star properties offering high-touch services and amenities to meet the needs of your most demanding corporate and VIP travelers. The Premier Block Space program includes contracted inventory in 173 major business markets, setting aside rooms so you can book them for your clients in sold-out situations.
    [Show full text]
  • The Curious World of Donald Trump's Private Russian Connections
    Russia & The West The Curious World of Donald Trump’s Private Russian Connections James S. Henry Did the American people really know they were putting such a “well-connected” guy in the White House? Throughout Donald Trump’s presidential campaign he expressed glowing admiration for Russian leader Vladimir Putin. Many of Trump’s adoring comments were utterly gratuitous. After his Electoral College victory, Trump continued praising the former head of the KGB while dismissing the findings of all 17 American national security agencies that Putin directed Russian government interference to help Trump in the 2016 American presidential election. As veteran investigative economist and journalist Jim Henry shows below, a robust public record helps explain the fealty of Trump and his family to this murderous autocrat and the network of Russian oligarchs. Putin and his billionaire friends have plundered the wealth of their own people. They have also run numerous schemes to defraud governments and investors in the United States and Europe. From public records, using his renowned analytical skills, Henry shows what the mainstream news media in the United States have failed to report in any meaningful way: For three decades Donald Trump has profited from his connections to the Russian oligarchs, whose own fortunes depend on their continued fealty to Putin.We don’t know the full relationship between Donald Trump, the Trump family and their enterprises with the network of world-class criminals known as the Russian oligarchs. Henry acknowledges that his article poses more questions than answers, establishes more connections than full explanations. But what Henry does show should prompt every American to rise up in defense of their country to demand a thorough, out-in-the-open congressional investigation with no holds barred.
    [Show full text]
  • Tourism Industry Overview
    TORNIKE KORDZAIA, CFA LUKA CHIGILASHVILI + (995 32) 2 27 27 27 [email protected] www.tbccapital.ge www.tbcresearch.ge Special thanks to: ALEXANDER BLUASHVILI, MAIA PAVERMAN TABLE OF CONTENTS EXECUTIVE SUMMARY 4 THE BROAD PICTURE: A KEY PILLAR OF THE ECONOMY 6 INTERNATIONAL TOURISM DYNAMICS: FURTHER UPSIDE POTENTIAL 8 MEANS OF ARRIVAL: INCREASING THE CONNECTIVITY 13 VISITOR EXPENDITURES: INCREASE IN SPENDING IS EXPECTED 15 REGIONAL DYNAMICS: HIGH GROWTH IN MAJOR DESTINATIONS 17 THE ACCOMMODATION MARKET: POTENTIAL TO BECOME STRUCTURED 19 RUSSIAN SANCTIONS EXPLAINED: A SHORT-LIVED HIT 32 WINTER TOURISM: MORE TO BE DEVELOPED 33 NICHE TOURISM: A UNIQUE CHARM 36 DOMESTIC TOURISM: A SMALLER SHARE OF HOTEL CLIENTELE 42 INTERNATIONAL RANKINGS: IMPROVEMENTS IN 2019 44 GOVERNMENT POLICY: PRIORITIZING TOURISM 44 ANNEX 46 ACRONYMS AND ABBREVIATIONS 49 EXECUTIVE SUMMARY Georgia’s tourism industry has achieved a remarkable growth over the past decade, hitting record numbers of tourist arrivals and outpacing the economy growth with a 12.8% CAGR over the past ten years. Tourism represents the largest component of service exports in the BOP, accounting for 72%, up from under 40% a decade ago. As of 2018, tourism revenues make up 36% of Georgia’s total exports. Consumption by international visitors is significant, with 84% contribution in spending on short-term accommodation, 20% on food and beverages, 51% on culture and entertainment and 16% on ground transportation. under-toured. With visitor-to-population ratio of 1.9, Georgia falls behind some European countries, however the share of same-day trips overnight trips outpaces that of same-day trips for the past three years, supported with positive visits, we see further potential for the industry growth.
    [Show full text]
  • Egypt WP V27 MAY2019 Online
    #Egypt #TheWorldfolio SUNDAY, APRIL 14, 2019 01 This Special supplement was prepared by The Worldfolio. The production of this supplement did not involve the news or editorial staff of The Washington Post. For more information contact The Worldfolio. Africa’s top investment Bold economic reforms pay major dividends The Egyptian government has implemented reforms and laid down the plans that will ultimately allow the private destination sector to take the driving seat on the road towards sustainable development and inclusive growth. Egypt is now the second- After some turbulent years follow- “For economic growth this largest recipient of direct ing the Arab Spring in 2011, Egypt’s year, we are targeting 5.6 U.S. investments in the economy has bounced back and is Middle East. now primed and ready to reach percent and for the next year new heights. Politically and eco- we’ll be working very hard Egypt has been identified as the nomically stable, the North African to reach 6 percent. I think African continent’s best invest- nation is pushing ahead with a re- this is quite outstanding. I’ve ment destination for 2019 – an form agenda and visionary plan for honor it is celebrating for the sec- the future that includes hundreds seen a lot of reports showing ond consecutive year. of billions of dollars worth of pro- that Egypt was among the The accolade, awarded by Rand jects across the board – from brand WRSͤYHJURZLQJFRXQWULHVLQ Merchant Bank (RMD), attributes new cities to the game-changing the world” Egypt’s top-spot to two factors: Suez Canal Economic Zone, which that the country is Africa’s high- has already attracted some of the plementing new initiatives to subsi- est gross domestic producer, and world’s largest companies.
    [Show full text]